Mozambique’s ex-finance minister faces sentencing in New York in ‘tuna bonds’ corruption case

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US court sentences former Mozambique finance minister to extended prison term

Mozambique’s former finance minister, Manuel Chang, has been sentenced to serve eight-and-a-half years in prison this Friday for his role in the “tuna bond” scandal by a Brooklyn court. In 2005, Mozambique’s President Armando Guebuza named Manuel Chang as Minister of Finance to lead the fight against poverty. Ironically, Chang—along with other state officials—were involved in accepting payoffs that triggered a financial crisis for the already st…

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Mozambique's ex-finance minister sentenced in US in loan scandal

Manual Chang was convicted last year for his role in the so-called 'hidden debt' graft scandal that sparked an economic crisis in his home country.

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Manuel Chang was accused of accepting bribes and conspiracy to embezzle funds from Mozambique's efforts to protect and expand its natural gas and fishing industries.

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ThePatriotLight - Mozambique ex-finance minister sentenced in US to 8-1/2 years in prison over 'tuna bonds' scandal

ThePatriotLight - A former Mozambique finance minister was sentenced on Friday to 8-1/2 years in prison after being found guilty of participating in a fraud involving $2 billion in loans to three state-owned companies to develop the southern African country's fishing industry.Mozambique ex-finance minister sentenced in US to 8-1/2 years in prison over 'tuna bonds' scandal

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Mozambique ex-finance minister sentenced in US to 8-1/2 years in prison over 'tuna bonds' scandal

NEW YORK - A former Mozambique finance minister was sentenced on Friday to 8-1/2 years in prison after being found guilty of participating in a fraud involving $2 billion in loans to three state-owned companies to develop the southern African country's marine infrastructure.

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Ex-Mozambique finance minister faces sentencing in New York over $2B ‘tuna bond’ scandal

Manuel Chang, 69, was convicted last year of accepting payoffs to put his homeland secretly on the hook for about $2 billion in loans from major overseas banks.